https://www.taxtmi.com/caselaws?id=2862 Modvat credit was admissible where duty-paying documents were furnished with monthly returns and the department raised no contemporaneous objection during scrutiny; a later audit objection did not disprove valid availment, so the demand and penalty failed on merits. The demand was also time-barred because the returns disclosed the relevant facts, and in the absence of proved suppression, misstatement, fraud, or intent to evade duty, the extended limitation period could not be invoked. The Revenue's challenge was therefore rejected and relief to the assessee was sustained. en-us Wed, 05 Sep 2007 00:00:00 +0530 Wed, 16 Apr 2008 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2862 Modvat credit was admissible where duty-paying documents were furnished with monthly returns and the department raised no contemporaneous objection during scrutiny; a later audit objection did not disprove valid availment, so the demand and penalty failed on merits. The demand was also time-barred because the returns disclosed the relevant facts, and in the absence of proved suppression, misstatement, fraud, or intent to evade duty, the extended limitation period could not be invoked. The Revenue's challenge was therefore rejected and relief to the assessee was sustained. Case-Laws Central Excise Wed, 05 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2862